boston dynamics

Hyundai confirms acquisition of Boston Dynamics for 1.1 billion

We already discussed it a few weeks ago, and the rumor has been confirmed: Hyundai will secure a majority stake in the engineering and robotics group.

Following rumors of the purchase, which first began circulating in November, Hyundai Motor Group and Chairman Euisun Chun said they had agreed to acquire an 80% controlling stake in Boston Dynamics, while SoftBank would hold 20%. (the current owner).

The company, which has attracted attention with its impressive robots for years, will change hands like this from June 2021.

@wwwhatsnew

the Boston dynamic robot showed its perfect shape a year ago #robot #robotica

It’s Tricky – RUN DMC

Financial terms beyond Boston Dynamics’ 1.1 billion valuation were not disclosed.

Hyundai says the agreement will mark another important step towards its strategic transformation into a provider of smart mobility solutions and complement existing investments in sustainability, green vehicles, smart factories, also known as Industry 4.0, artificial intelligence (AI) and robotics.

A little history of Boston Dynamics

Founded in 1992, Boston Dynamics focuses on advanced robotic designs suitable for commercial applications. He focuses heavily on robotics suitable for hazardous environments by creating products with high levels of dexterity and mobility, such as the Spot robot dog that has been featured in the media so many times.

The robotics and engineering group intends to enter the logistics automation market soon with Pick, and a warehouse-friendly mobile robot is also expected to be available next year.

Hyundai says Boston Dynamics has enormous growth potential, with multiple key technologies of interest to the engine group. In particular, technologies related to perception, navigation and intelligence stand out, for which to use technology for smart cars.

The Boston Dynamics headquarters, in Boston and Silicon Valley, was also a factor in the acquisition. Hyundai calls these areas core robot group regions, which are ideal for harnessing top talent in the field of robotics and collaborating with competent partners.

Although the transaction is expected to close in June 2021, it is still subject to regulatory approval.

More information in your press release.